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we're headed for a debt ceiling battle is to avoid the debt ceiling itself. congressman jerry nadler joins me now and introducing the legislation today. in full disclosure he is my congressman. you do a hell of a job in your district. we're very happy with you there. >> thank you. david: i do set this that up as a compliment to criticize you, i look at a debt ceiling which started at 10 billion, 10 trillion dollars when the president came into office. it is now $16 trillion. don't we need restraint of a debt ceiling to prevent the spending from even going further? >> no. and it doesn't restrain spending at all. congress makes the decisions as to what to spend, what the level of taxation should be, what the level of spending should be. the debt ceiling is just there and, says you can not pay the bills that you voted to incur a year ago and two years ago and three years ago. and that is just wrong. now it used to be harmless in that the debt ceiling would be raised with a little demagoguing here and there but no one ever seriously suggested not raising it. it w
we're headed for a debt ceiling battle is to avoid the debt ceiling itself. congressman jerry nadler joins me now and introducing the legislation today. in full disclosure he is my congressman. you do a hell of a job in your district. we're very happy with you there. >> thank you. david: i do set this that up as a compliment to criticize you, i look at a debt ceiling which started at 10 billion, 10 trillion dollars when the president came into office. it is now $16 trillion. don't we need...
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Jan 15, 2013
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translation, the debt ceiling deal didn't do enough about the debt itself. so keep this in mind when you hear it said,be with great certainty it's the republicans trying to force spending cuts over endangering the nation credit rating. as will rogers quoted once, "it isn'tbe what we don't know that gives us trouble. it's what we know that ain't so." bret? >> bret: the president has effectively turned the messaging around. by saying it's about paying the bills that congress has already passed. the laws that it's already passed. republicans are saying it's about borrowing authority. essentially running up the country's credit card. >> exactly. what the republicans are saying is look, we maxed out the credit card. it's time before we extend any new credit or allow any new credit to do something aboutbe the spending that got us here. that would seem on the surface to be a reasonable argument. but so far, the republicans have not been able to win it. and what tends to happen in the fights when you get all of this late hour melodrama as we have had in the last cou
translation, the debt ceiling deal didn't do enough about the debt itself. so keep this in mind when you hear it said,be with great certainty it's the republicans trying to force spending cuts over endangering the nation credit rating. as will rogers quoted once, "it isn'tbe what we don't know that gives us trouble. it's what we know that ain't so." bret? >> bret: the president has effectively turned the messaging around. by saying it's about paying the bills that congress has...
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Jan 14, 2013
01/13
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ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members are among the group of democrats meeting with vice president biden about gun control. the vice president could turn over his proposals to president obama as early as tomorrow. >> a month ago today, the shooting massacre at sandy hook elementary school shocked the nation. and re-ignited a fierce battle over america's relationship with guns. tomorrow, vice president biden will recommend a robust gun control game plan to president obama including stronger background checks for all gun purchases, a ban on high capacity magazine clips, and a renewed ban on assault weapons. >> my starting poi
ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members...
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ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members are among the group of democrats meeting with vice president biden about gun control. the vice president could turn over his proposals to president obama as early as tomorrow. >> a month ago today, the shooting massacre at sandy hook elementary school shocked the nation. and re-ignited a fierce battle over america's relationship with guns. tomorrow, vice president biden will recommend a robust gun control game plan to president obama including stronger background checks for all gun purchases, a ban on high capacity magazine clips, and a renewed ban on assault weapons. >> my starting poi
ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members...
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Jan 15, 2013
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he offered a solution for the president's dilemma on the debt ceiling. >> the final press conference was held this morning and he talked about the debt ceiling announcing if congress doesn't work with him and raise the debt ceiling america will go into default on the loans and we might have to sell florida. so, take goodbye to nanna and papa. >> you can see jimmy kimmel at the new time following the abc7 at 11. >> and the story behind a baby panda high five that >> on the 4th anniversary of the miracle on the hudson, "sully" sullenberger joins katie couric for a great day and reunited with the passengers he saved in the incredible emergency landing on new's hudson river. >> of all people to be piloting that day, thank god, sully, it was you. sometimes i get on a plane and i am like, sully? anybody named sully on this plane? >> i appreciate that. when i travel as a passenger i have people recognize me and they say i feel better knowing you are here. >> we feel the same way, too. that is katie at 3:00 and you can hear more right here on abc7. on abc7 news at 4:00, a hand's on lesson, h
he offered a solution for the president's dilemma on the debt ceiling. >> the final press conference was held this morning and he talked about the debt ceiling announcing if congress doesn't work with him and raise the debt ceiling america will go into default on the loans and we might have to sell florida. so, take goodbye to nanna and papa. >> you can see jimmy kimmel at the new time following the abc7 at 11. >> and the story behind a baby panda high five that >> on...
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he talked about the debt ceil saying if congress does not work with him to raise the debt ceiling america will be in default and we my have to sell florida. >> watch jimmy kimmel live weeknights right here on abc7 at the new time following abc7 news at 11 and "nightline" is on right after that. >> lebanese -- leave disneyland and the cracked crab >> welcome back on the 4th anniversary of "miracle on the hudson." "sully" sullenberger joins katie about the incredible emergency landing. >> of all people to be piloting that lane, thank goodness it was you. i get on a plane and i think, sully? anyone named sully on this plane. >> i appreciate that and when i travel as a passenger i have people recognize me and they say i feel better knowing you are here. >> i look for him in the cockpit, as well. that is katie at 3:00 p.m. right here on abc7. >> good show. >> 5:23. great mighting that day. amazing to see the pictures. >> now, outside, it is darn cold. >> do we want do? mike, what are we facing? >> freezing temperatures in a lot of areas but this afternoon we are going to chip away at this air
he talked about the debt ceil saying if congress does not work with him to raise the debt ceiling america will be in default and we my have to sell florida. >> watch jimmy kimmel live weeknights right here on abc7 at the new time following abc7 news at 11 and "nightline" is on right after that. >> lebanese -- leave disneyland and the cracked crab >> welcome back on the 4th anniversary of "miracle on the hudson." "sully" sullenberger joins katie...
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Jan 14, 2013
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one would be the debt ceiling. the second is the expiration of the continuing resolution that funds an agreement. if you can't reach an agreement, then you'd have a government shutdown. neither one of these outcomes is good. one though is immediately and totally catastrophic. that's the debt default. if republicans now -- if blackburn's comments maybe are indicative of something, if republicans now are moving away a little bit from the threat of the debt default and are now talking about the shutdown and the continuing resolution in this totally screwed up washington that we have right now with all these perverse incentives, that actually does represent progress if republicans are now only talking about a government shutdown and not a debt default. >> do you agree with that? >> i mean, not really. i know what you're saying but i don't really think we should give a lot of rewards. we citizens, we the political class, or we the media for different strains of this kind of leverage. i think the problem and it was in a
one would be the debt ceiling. the second is the expiration of the continuing resolution that funds an agreement. if you can't reach an agreement, then you'd have a government shutdown. neither one of these outcomes is good. one though is immediately and totally catastrophic. that's the debt default. if republicans now -- if blackburn's comments maybe are indicative of something, if republicans now are moving away a little bit from the threat of the debt default and are now talking about the...
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Jan 15, 2013
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he offered a solution for the president's dilemma on the debt ceiling. >> the final press conference was held this morning and he talked about the debt ceiling announcing if congress doesn't work with him and raise the debt ceiling america will go into default on the loans and we might have to sell florida. so, take goodbye to nanna and papa. >> you can see jimmy kimmel at the new time following the abc7 at 11. >> and the story behind a baby [ female announcer ] this is a special message from at&t. [ male announcer ] it's no secret that the price of things just keeps going up. [ female announcer ] but we have some good news. it's our bundle price promise. [ male announcer ] a price you can definitely count on, for two whole years. from at&t. [ female announcer ] a great price for a great triple-play bundle. [ male announcer ] call now. bundles with u-verse tv, internet and home phone start at $89 a month. now get the same great price for two years. [ female announcer ] switch today and get a total home dvr included, free for life. [ male announcer ] you get reliable, high speed inter
he offered a solution for the president's dilemma on the debt ceiling. >> the final press conference was held this morning and he talked about the debt ceiling announcing if congress doesn't work with him and raise the debt ceiling america will go into default on the loans and we might have to sell florida. so, take goodbye to nanna and papa. >> you can see jimmy kimmel at the new time following the abc7 at 11. >> and the story behind a baby [ female announcer ] this is a...
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Jan 14, 2013
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okay, charles, start with the debt ceiling talk. what you heard from the president. >> the tone was remarkable. he talk about the republicans being suspicious of the social security and medicare by the oldest saw that you could hear. then he added making sure empovrished children get food. that's over the top. he said i love to hang out with a congressional picnic at these people who want to starve america's chirp. interesting ini havation. then he went over and over on the debt ceiling and he must have gone through the same idea 15 times. saying this is about honoring the obligation and paying the bills we have already incured. he raised the debt ceiling on how to depend on the ongoing financial assistance from the foreign country to finance the reckless, fiscal pollty. the point of raising the debt ceiling is to allow to us borrow. he talked about the debt ceiling a dozen times. not once did he use the word "borrow." that means we are going to continue to borrow for every dollar the government spend, only 60 cents of it come from
okay, charles, start with the debt ceiling talk. what you heard from the president. >> the tone was remarkable. he talk about the republicans being suspicious of the social security and medicare by the oldest saw that you could hear. then he added making sure empovrished children get food. that's over the top. he said i love to hang out with a congressional picnic at these people who want to starve america's chirp. interesting ini havation. then he went over and over on the debt ceiling...
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on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy. and you did. so if you say now you're not going to negotiate on the debt ceiling this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> first of all, julianna, let's take the example this year in the fiscal cliff. i did not say i wouldn't have any conversations at all about extending the bush tax cuts. what i said was we weren't going to extend bush tax cuts for the wealthy. and we didn't. now, you can argue that during the campaign i said -- i set the criteria for wealthy at 250 and we ended up being at 400, but the fact of the matter is, millionaires, billionaires are paying significantly more in taxes, just as i said. so from the start, my concern was making sure that we had a tax code that was fair and that protected the middle class, and my biggest priority was making sure the middle class
on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy. and you did. so if you say now you're not going to negotiate on the debt ceiling this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> first of all, julianna, let's take the example this year in the fiscal cliff. i did not say i wouldn't have any conversations at...
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Jan 16, 2013
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susan collins believes the debt ceiling must be raised. we have seen how the debt ceiling can be raised without a battle. the first read today, this is an interesting development that perhaps will expedite this debt ceiling battle. >> we have a lot more twists and turns to come in the battle. one of the best predictors of whether one side will win or lose and how unify and united that side is. we are seeing fizzures among republicans and conservative writers as well as gop interest groups who are saying we shouldn't pick a fight when it comes to the debt ceiling. maybe it's better to pick a fight over shutting the government down rather than risking the default of the government when it comes to raising the debt ceiling. this is a significant development. it shows a lot of people thought we were looking ahead to the debt ceiling and the republicans had a lot more leverage. that can call it into question. >> that are sounds like the president describes. i use the word lurching to the next crisis ahead. it was the fiscal cliff and then it wa
susan collins believes the debt ceiling must be raised. we have seen how the debt ceiling can be raised without a battle. the first read today, this is an interesting development that perhaps will expedite this debt ceiling battle. >> we have a lot more twists and turns to come in the battle. one of the best predictors of whether one side will win or lose and how unify and united that side is. we are seeing fizzures among republicans and conservative writers as well as gop interest groups...
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ceiling f.congress raises the debt cell what does it do. puts us more in debt. >> it allows him to borrow more money. >>reporter: half the people we talked to had no idea what the debt ceiling was. she blamed lawmakers. >> i believe honestly they make things purposely confuse to go do whatever they want. >>reporter: so if the president wants to turn up the heat on house republicans he has to make the issue clear and as bruce explains, republicans need to decide if they really want to stand their ground on this issue at the risk of economic down tivrnlt i think a lot has to do yes tea party you want to make a case is this the time to do it and right way to do it. that i think is boehner responsibility to explain that to his caucus members. my unitsing that's what he's planning to do over the next couple days. >>reporter: tea party express issued a statement saying it's completely irresponsible for the president of the united states to demagog this issue. the president will have big opportunity to speak to the nation on this if he chooses t t
ceiling f.congress raises the debt cell what does it do. puts us more in debt. >> it allows him to borrow more money. >>reporter: half the people we talked to had no idea what the debt ceiling was. she blamed lawmakers. >> i believe honestly they make things purposely confuse to go do whatever they want. >>reporter: so if the president wants to turn up the heat on house republicans he has to make the issue clear and as bruce explains, republicans need to decide if they...
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the issue is not the debt ceiling. the issue is the fundamental core problems of the country and the inability of our congressional leaders and our political class to actually solve them. >> neil: how is it that you are home to some of best? >> they are good for you. >> neil: ron shaich, just a message from wall street. okay. did you hear the one about teacher did not like her students and thoughts about a phobia that is now a lawsuit. we're going try this. what do we want to build next ? that's the question. every day. when you have the most advanced tools, you want to make something with them. something that helps. helps safeguard our shores. helps someone see through a wall of fire. helps those nowhere near the right doctor stand a chance. ... feeling in the extremities ? no. technology can do that. who can tell me the third life cycle stage of the frog ? it can take a sick kid to school. nathan. tadpole. and help ensure a constant supply of clean energy. the things we build share one belief. that the world's bigges
the issue is not the debt ceiling. the issue is the fundamental core problems of the country and the inability of our congressional leaders and our political class to actually solve them. >> neil: how is it that you are home to some of best? >> they are good for you. >> neil: ron shaich, just a message from wall street. okay. did you hear the one about teacher did not like her students and thoughts about a phobia that is now a lawsuit. we're going try this. what do we want to...
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ceiling or the debt limit. where do we go from here? joining me now live mark murray. mark, obviously, the first thing at least some conservatives brought up with the president is that he has taken a different stance in the past when it came to the debt ceiling. >> well, in 2006, then senator barack obama ended up voting against a raise in the debt ceiling. republicans have seized on that saying that the position that president obama's taking today and also in 2011 is inconsistent with that 2006 vote. there is one very big difference between now and 2006. 2006 there wasn't this kind of big protracted battle over the debt ceiling at all. it wasn't a big issue. i was covering politics for nbc at the time. the debt ceiling increase was seen as a procedure and a very partisan vote then but not something you were reporting on for weeks and months like we have in 2011 then and now on the debt ceiling debate and, of course, what happened in 2011 was a loss to the nation's credit rating. there's big differences between
ceiling or the debt limit. where do we go from here? joining me now live mark murray. mark, obviously, the first thing at least some conservatives brought up with the president is that he has taken a different stance in the past when it came to the debt ceiling. >> well, in 2006, then senator barack obama ended up voting against a raise in the debt ceiling. republicans have seized on that saying that the position that president obama's taking today and also in 2011 is inconsistent with...
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Jan 18, 2013
01/13
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he's refusing to negotiate, so if the gop ties the debt ceiling to the current budget battle. listen to this. >> republicans and congress have two choices here. they can act responsibly and pay america's bills, or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. >> steve: here is somebody who dealt with enormous deficits firsthand, the former governor of the golden state of california, arnold schwarzenegger. good morning to you. >> good morning. nice to be here again. >> brian: he sends a warning to the republicans should they back off or take on the president? >> first of all, i think i find it interesting that when you want to have more money, if you go to any financial institution, they say look, i can't pay my bills, i need more money. they want to see their payment plan. how are you going to live responsible from here on? then you can get more money. so i don't understand that why this should not be a part of the discussion because it ought to be. i think ameri
he's refusing to negotiate, so if the gop ties the debt ceiling to the current budget battle. listen to this. >> republicans and congress have two choices here. they can act responsibly and pay america's bills, or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. >> steve: here is somebody who dealt with enormous deficits firsthand, the former governor of the golden state...
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Jan 19, 2013
01/13
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we have already spent that money so you have to raise the debt ceiling. some people say stop the madness. whever the repercussions are stop it, cap it now. if we have to default we will. maybe we can skirt default somehow. seem like majority of respondents feel that way. >> 83% say spending is out of control. of that wonder i wonder how many have idea how big the debt is 16. it doesn't matter in absolute dollars this is the biggest debt that's ever existed and our credited rating has been down graded as a result of it? >> i remember as a kid i don't know elementary school or junior high when bewere talking about the debt it was something like 4 trillion. and our teachers asked us to wrap our heads around that number. try wrapping your head around 16 trillion. i just can't imagine. to pay that down how many years that would take. even with being smart with government spending. >> it's larger than our entire economy just to put it in some scale here. >> that's a problem. yeah. i remember when i was a kid going to the gas station and thinking wow why the tim
we have already spent that money so you have to raise the debt ceiling. some people say stop the madness. whever the repercussions are stop it, cap it now. if we have to default we will. maybe we can skirt default somehow. seem like majority of respondents feel that way. >> 83% say spending is out of control. of that wonder i wonder how many have idea how big the debt is 16. it doesn't matter in absolute dollars this is the biggest debt that's ever existed and our credited rating has been...
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Jan 16, 2013
01/13
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FBC
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here's one way washington can avoid the debt ceiling showdown, get rid of the debt ceiling altogether. tracy: and grounded, and other emergency landing for boeing's dreamliners. planned as the top two airlines stopped planes from flying altogether. lori: on a post-it note just isn't enough. employee who allegedly stole $400,000 worth of copy machine toner and resold it on the black market. you have to hear it to believe it. tracy: top of the hour. nicole petallides on the floor of the new york stock exchange. we can't seem to find our footing. nicole: interestingly enough we are not too far off of the unchanged line but we are up six of the last eight trading weeks. hovering around five year highs. as you noted early on, talk a lot about boeing weighing on the dow jones industrials today play with one issue after another. the s&p 500 down one point at 1471. it is also earning season. how they are faring. they came out obviously earnings-per-share eating earnings slightly miss. a new high for dell. and all those names are lower. continue to follow earnings here all week on fox business
here's one way washington can avoid the debt ceiling showdown, get rid of the debt ceiling altogether. tracy: and grounded, and other emergency landing for boeing's dreamliners. planned as the top two airlines stopped planes from flying altogether. lori: on a post-it note just isn't enough. employee who allegedly stole $400,000 worth of copy machine toner and resold it on the black market. you have to hear it to believe it. tracy: top of the hour. nicole petallides on the floor of the new york...
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Jan 14, 2013
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ceiling. in a statement, senate minority leader mitch mcconnell says the debted limit is the time to get on reducing spending. gun control is also an issue. >> responsible gun owners, people who have a gun for protection, for hunting, for sportsmanship, uhm, they don't have anything to worry about. >> reporter: the national rifle association has already made clear, it has enough support in congress to block legislation that restricts gun ownership. >> i would say that the likelihood is that they are not going to be able to get an assault weapons ban through this congress. >> reporter: moderate lawmakers say there is a better chance of passing laws that limit the number of bullets in ammunition magazines and improve background checks. vice president joe biden is meeting with house members today about gun control. the president said he would give details from the gun violence task force sometime later this week. at the white house, danielle nottingham, cbs 5. >>> the 16-year-old who opened fire
ceiling. in a statement, senate minority leader mitch mcconnell says the debted limit is the time to get on reducing spending. gun control is also an issue. >> responsible gun owners, people who have a gun for protection, for hunting, for sportsmanship, uhm, they don't have anything to worry about. >> reporter: the national rifle association has already made clear, it has enough support in congress to block legislation that restricts gun ownership. >> i would say that the...
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Jan 16, 2013
01/13
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FBC
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he says he won't negotiate on the debt ceiling. all sorts of politicos and savants are talking about a government shutdown. in tonight's "chalk talk", we tell you the truth. and we will call him some trouble waters. plus new warnings about a downgrade of the u.s. debt. a familiar tune with the voice of doom. will the markets take them seriously this time citigroup's ♪ ♪ ♪ [ male announcer ] you don't have to be a golf pro to walk like one. ♪ when you walk 10,000 steps a day, it's the same as walking a professional golf course. humana. health and well-being partner of the pga tour. lou: let's take a quick look at what is happening to the markets and the economy. fitch is warning of a possible u.s. downgrade the debt ceiling talks drag on. citigroup had will join us here in just moments. retail stocks rolling up better than expected holiday sales season. the dow jones industrials up 27 points on the day. the s&p managed a point gain but still reaching anoer five-year high. the nasdaq is down six, that is only slightly from ye
he says he won't negotiate on the debt ceiling. all sorts of politicos and savants are talking about a government shutdown. in tonight's "chalk talk", we tell you the truth. and we will call him some trouble waters. plus new warnings about a downgrade of the u.s. debt. a familiar tune with the voice of doom. will the markets take them seriously this time citigroup's ♪ ♪ ♪ [ male announcer ] you don't have to be a golf pro to walk like one. ♪ when you walk 10,000 steps a day,...
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Jan 15, 2013
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there's the debt ceiling, whether or not to raise the debt ceiling. some are talking about shutting the government down when the continuing resolution that authorizes spending for this government runs out, that he would negotiate then on this whole issue of spending cuts and new revenue. and if you cannot get a deal, then you let the government shutdown. some republicans are laying the groundwork for that. then you have the sequestration that was delayed under the fiscal cliff deal. so there are more than one battle happening. where do you think the negotiations should take place? should be the debt ceiling or the continuing resolution to fund the government or sequestration? caller: the continuing revolution to keep the government going -- resolution. there are many departments we don't need. i was showing my grandchildr the debt clock, telling him how much money he would know when he becomes a taxpayer. he said he does not want to become a taxpayer. this is taxation without representation. they have to get this under control. they need a dyiet. host
there's the debt ceiling, whether or not to raise the debt ceiling. some are talking about shutting the government down when the continuing resolution that authorizes spending for this government runs out, that he would negotiate then on this whole issue of spending cuts and new revenue. and if you cannot get a deal, then you let the government shutdown. some republicans are laying the groundwork for that. then you have the sequestration that was delayed under the fiscal cliff deal. so there...
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he says he won't negotiate on the debt ceiling. all sorts of politicos and savants are talking about a government shutdown. in tonight's "chalk talk", we tell you the truth. and we will call him some trouble waters. plus new warnings about a downgrade of the u.s. debt. a familiar tune with the voice of doom. will the markets take them seriously this time citigroup's global head joins us with the answer the boys use capital one venture miles for their annual football trip. that's double miles you can actually use. tragically, their ddy got sacked by blackouts. but it's our tradition! that's roughing the card holder. but with the capital one venture card you get double miles you can actually use. [ cheering ] any flight, anytime. the scoreboard doesn't lie. what's in your wallet? hut! i have me on my fantasy team. at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and
he says he won't negotiate on the debt ceiling. all sorts of politicos and savants are talking about a government shutdown. in tonight's "chalk talk", we tell you the truth. and we will call him some trouble waters. plus new warnings about a downgrade of the u.s. debt. a familiar tune with the voice of doom. will the markets take them seriously this time citigroup's global head joins us with the answer the boys use capital one venture miles for their annual football trip. that's...
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Jan 21, 2013
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ceiling. >> so i want to be clear about this, the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending, it simply allows the country to pay for spending that congress has already committed to. >> mike: well, according to the congressional record, in 2006, then senator barack obama had this statement just before a debt ceiling vote and i quote, the fact that we are here today to debate raising america's debt limit is a sign of leadership failure, it's a sign that the u.s. government can't pay its own bills, it's a sign that we now depend on ongoing financial assistance from foreign countries to finance our government's reckless fiscal policies. leadership means that the buck stops here. instead, washington is shifting the burden of bad choices today on the backs of our children and grandchildren, therefore intend to oppose the effort to increase america's debt limit. in 2008, candidate obama blamed president bush and called the growing debt unpatriotic. >> number 43 added 4 trillion dollars by his lonesome so that we no
ceiling. >> so i want to be clear about this, the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending, it simply allows the country to pay for spending that congress has already committed to. >> mike: well, according to the congressional record, in 2006, then senator barack obama had this statement just before a debt ceiling vote and i quote, the fact that we are here today to debate raising america's debt limit is a...
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president, what's the deal with the debt? i've been hearing a lot about the debt ceiling. what's my family's share? i'm just a kid. when i'm a grownup, i understand it could be hundreds of thousands of dollars. could you guys please cut spending now? >> brian: if you want to know if that is going to happen today, see if rand paul's grandson will be in there or somebody like that. if there's a republican child or michael j. fox's character, michael keating. >> gretchen: that would be a good one. let's talk about what the new york state has done now and governor cuomo. he immediately went on the attack to try and pass very expansive gun law legislation because many people are saying he wants to run for president next time around and he also was very concerned about the issue. but some people are saying this morning that what they passed last night is full of holes. we want to show you a graphic of a particular kind of weapon that has been banned, a rifle. this is a baneli 1 rifle. the reason it's banned is because you can see how you hold on to the gun there. that's called a
president, what's the deal with the debt? i've been hearing a lot about the debt ceiling. what's my family's share? i'm just a kid. when i'm a grownup, i understand it could be hundreds of thousands of dollars. could you guys please cut spending now? >> brian: if you want to know if that is going to happen today, see if rand paul's grandson will be in there or somebody like that. if there's a republican child or michael j. fox's character, michael keating. >> gretchen: that would be...
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and let's take it to them on the debt ceiling. that is what we'll do on the debt limit. that is where we'll fight the battle. that is where we're take it to obama, that is where we'll make him pay and get the spending cuts. remember that? that is where we're at. we're now at the debt limit. and guess what? this is not the time to fight this battle. we can't win anything on the debt limit. and when we get to march and the continuing resolution -- you know what, what will be said then? this is not the hilda fight, we don't want to be responsible for people not getting their social security checks. we don't want to be blamed for it. >> joining me now are ryan grim, washington bureau chief for "huffington post," ryan, so really, they on the debt ceiling, if all the democrats voted to raise it they would only need 18 republican votes to raise it. is that the kind of thing we're going to see happen? >> i mean, you're either going to see that or a complete and total cave. but i don't think you will see a complete and total one, because you have the tea party still hanging aroun
and let's take it to them on the debt ceiling. that is what we'll do on the debt limit. that is where we'll fight the battle. that is where we're take it to obama, that is where we'll make him pay and get the spending cuts. remember that? that is where we're at. we're now at the debt limit. and guess what? this is not the time to fight this battle. we can't win anything on the debt limit. and when we get to march and the continuing resolution -- you know what, what will be said then? this is...
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Jan 15, 2013
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ceiling soon compare our debts and bills . that is the right way to do it. and the i think that is what will eventually happen, but i don't think that going off in another direction would really be all that talk -- all that helpful. >> hello, chairman bernanke. i am a second year in pp at the force cool and studying for a graduate certificate in science and technology. second question from the audience, does the debt ceiling of a practical purpose? could it be eliminated without much consequence? >> does what have? >> the debt ceiling. >> it does not really have. it has symbolic value i guess, but no other country, i believe, maybe one or two other, but no other countries in the world have this particular institution . to so everyone understands what is, the congress appropriates $100, tells the government to spend $100 on whenever and then it raises $80 in revenue through its tax code. now, the arithmetic here sort of says, you have to borrow $20. shephard -- the congress has to give a third rule. if the congress is approving
ceiling soon compare our debts and bills . that is the right way to do it. and the i think that is what will eventually happen, but i don't think that going off in another direction would really be all that talk -- all that helpful. >> hello, chairman bernanke. i am a second year in pp at the force cool and studying for a graduate certificate in science and technology. second question from the audience, does the debt ceiling of a practical purpose? could it be eliminated without much...
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Jan 18, 2013
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ceiling. >> we've always raised the debt ceiling. we should pay our bills as the president said, we're not a dead-bet country. i'm glad they finally saw the light. we need to pay our bills and move forward. there is a stronghold of 75 republican tea party members who quite frankly do listen to the tea party in many ways, and hopefully this is a signal that they too need to understand that this should not be an issue. it should not be held honestly. hostage. we should raise the debt ceiling. that's an automatic. we should move forward and talk about how we create jobs. by creating jobs we reduce the deficit. >> jennifer: i'm take taking it as an encouraging sign that the tea party can be moved by public voices. if they can be moved on the debt ceiling of all things, maybe they could be moved on guns. you wrote in the "huffington post," advocating reducing defense spending so you can spend more money and invest in the united states. the question is in the negotiations in congress over the spending do you see that happening? >> we've go
ceiling. >> we've always raised the debt ceiling. we should pay our bills as the president said, we're not a dead-bet country. i'm glad they finally saw the light. we need to pay our bills and move forward. there is a stronghold of 75 republican tea party members who quite frankly do listen to the tea party in many ways, and hopefully this is a signal that they too need to understand that this should not be an issue. it should not be held honestly. hostage. we should raise the debt...
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we will meet our obligations on our debt regardless of the debt ceiling. we will not default. that is an absolute, we will not default. the idea that we will if we don't raise the debt creel something an absolute flat out myth. >> gretchen: what else did he say you didn't agree with? >> the use of the expression, dead beat nation, that really is talking down america. the president is encouraging congress, encouraging america to pay its bills using a credit card to pay its bills, using borrowed money to pay its bills. that credit card will never be paid off and the balance on it will never be paid down. that is dead beat behavior and that should be pointed out. by using that expression, the president is talk down america. we stand not as tall in the eyes of the world when the president uses that kind of language. >> gretchen: could it also be he was talking down to republicans because he thinks right now that he has the majority of the american people on his side? to me, his words, whether or not they're true, resonate with some americans because he simplifies his message and d
we will meet our obligations on our debt regardless of the debt ceiling. we will not default. that is an absolute, we will not default. the idea that we will if we don't raise the debt creel something an absolute flat out myth. >> gretchen: what else did he say you didn't agree with? >> the use of the expression, dead beat nation, that really is talking down america. the president is encouraging congress, encouraging america to pay its bills using a credit card to pay its bills,...
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coming up, will the debt ceiling debate delay your tax refund? next in the president obama has begun his second term by declaring the possibilities are limitless. our political panel takes a look at the next four years. ♪ >>> from our fox business studios in new york, here, again, is gerri willis. gerri: well, not wasting a second of the second term, president obama making it clear who is in charge the next four years laying out a bold agenda in the inaugural address. that's how i read it. with more, maryann marsh, a democratic strategist, and rich lawry, editor of "the national review. " what do you think of the speech? >> audacious. one, it was an unabashedly progressive speech, shorn of the pose that's characterized as rhetoric. it also, i think, was audacious in its appropriation of the tradition of the american foundings. it was a direct challenge to republicans and the tea party saying you are obsessed with the founders. you are wrong. i am the one firmly within the tradition, and you are outside the mainstream, and you better get on boar
coming up, will the debt ceiling debate delay your tax refund? next in the president obama has begun his second term by declaring the possibilities are limitless. our political panel takes a look at the next four years. ♪ >>> from our fox business studios in new york, here, again, is gerri willis. gerri: well, not wasting a second of the second term, president obama making it clear who is in charge the next four years laying out a bold agenda in the inaugural address. that's how i...
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ceiling to avoid a potentially disastrous debt default. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying oh, i know how we can save money we won't pay our credit card bills. not the most effective way to improve your credit rating. >> but the chairman was fairly upbeat on the outlook for u.s. growth. but, gave no clear hints on when the fed would curb its aggressive bond purchases. we'll have more on the debt ceiling in the next hour when we speak to senator rob portman. you guys, wilbur, you also said we have -- we are fully ready with inflation, we have all the tools we need to exit. >> well, i caution a little bit. historically the fed has always bought short-term paper and it's easy then to raise the interest rates. again you let the paper roll off, you sell it. now they've been buying long-term paper. rates start to go up, fed cou
ceiling to avoid a potentially disastrous debt default. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying oh, i know how we can save money we won't pay our credit card bills. not the most effective way to improve your credit rating. >>...
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we expect him to talk about the debt ceiling. we're going to bring his comments to you live. >>> it's been one month since the tragic shooting at sandy hook elementary school. politicians at the state and federal level are scrambling to find ways to end gun violence in america. and one of them maryland governor martin o'malley outlined plans for what he says would be the toughest gun laws in the country. >> this would be a comprehensive legislative package to prevent gun violence and it addresses not only the guns but mental health and school safety. briefly, it will ban military assault weapons that have no place on the streets of baltimore or no other neighborhood in our state and it will limit the size of magazines in order to make it harder for criminals to gun down in succession police officers or school children. >> that might work for a state like maryland, a very blue state, but maybe not so much at a federal level. david keane, the president of the national rifle association, says, yeah, it will be a whole different stor
we expect him to talk about the debt ceiling. we're going to bring his comments to you live. >>> it's been one month since the tragic shooting at sandy hook elementary school. politicians at the state and federal level are scrambling to find ways to end gun violence in america. and one of them maryland governor martin o'malley outlined plans for what he says would be the toughest gun laws in the country. >> this would be a comprehensive legislative package to prevent gun violence...
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rid of the debt ceiling. most countries don't have a debt ceiling. you still need votes from congress to authorize spending. you couldn't just borrow willy nilly anyway. the simple fact is the debt ceiling is the one time in the legislative process where you actually get a bill. everyone having all this contest of whose analogy is right, whether it's a family with a budget, whether it's this. or that, whether it's dining and dashing as the president likes to say. the debt ceiling is the moment you get the credit card bill and it's the only moment. and if you can't have a sort of reckoning about your spending habits when you see your credit card bill you're never going to have that reckoning. i'm in favor of it. i'm in favor of any speed bumps towards more spending and this is as good as any. jon: the president was talking about it at his news conference the other day. i want to play something that he had to say and get your reaction. >> if congressional republicans refuse to pay america's bills on time, socia
rid of the debt ceiling. most countries don't have a debt ceiling. you still need votes from congress to authorize spending. you couldn't just borrow willy nilly anyway. the simple fact is the debt ceiling is the one time in the legislative process where you actually get a bill. everyone having all this contest of whose analogy is right, whether it's a family with a budget, whether it's this. or that, whether it's dining and dashing as the president likes to say. the debt ceiling is the moment...
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and what the federal government chooses to do or not to do regarding the debt ceiling. >> reporter: he said if washington fails to act on the debt creel, the national economy could dip, throwing all of the numbers off. >> that's going to have a very significant effect on revenues in california. >> reporter: the govern's budget that was released last thursday will be revised or updated in may. that is when we will truly know if our surplus plus has grown with the economy, or if it has dropped. >>> it doesn't look like survivors who filed lawsuits against pg & e are for the deadly san bruno explosion will go to trial. during a hearing in san mateo county superior court today, attorneys said they have come up with a process that should take about 90 days to settle the remaining legal claims. about 320 residents filed suit, and so far mediation efforts have netted settlements for some 120 plaintiff. >>> family members and politicians are calling for more resources to prevent military suicide as the number of suicides last year surged. numbers obtained from the pentagon show there were 349
and what the federal government chooses to do or not to do regarding the debt ceiling. >> reporter: he said if washington fails to act on the debt creel, the national economy could dip, throwing all of the numbers off. >> that's going to have a very significant effect on revenues in california. >> reporter: the govern's budget that was released last thursday will be revised or updated in may. that is when we will truly know if our surplus plus has grown with the economy, or if...
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Jan 19, 2013
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meanwhile the problem break through on the debt ceiling. the house gop said they are considering raising the debt limit for three months, a vote is scheduled next week, more details on that in a bit. >>> today, of course is the last full day of president obama's first term and it's the national day of service. day for giving back. earlier today the president and first lady volunteered at a school in the washington, d.c. area, nbc's ron is standing by the national day of service day tent at the mall and you have a special guest there with you as well, good day to you, sir? >> reporter: hey there, craig. my special guest is being mobbed by the crowd behind me. it's the senior adviser to president obama. she will make her way here in a second. as she comes up, we will give her a big welcome. welcome, valerie. pleasure to see you. >> pleasure to be here. can you believe the crowd? it's amazing. >> reporter: the president and first lady created this to really hopefully make it a standing tradition for inaugurations going forward. >> not just ina
meanwhile the problem break through on the debt ceiling. the house gop said they are considering raising the debt limit for three months, a vote is scheduled next week, more details on that in a bit. >>> today, of course is the last full day of president obama's first term and it's the national day of service. day for giving back. earlier today the president and first lady volunteered at a school in the washington, d.c. area, nbc's ron is standing by the national day of service day...
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Jan 21, 2013
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ceiling. >> so i want to be clear about this, the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending, it simply allows the country to pay for spending that congress has already committed to. >> mike: well, according to the congressional record, in 2006, then senator barack obama had this statement just before a debt ceiling vote and i quote, the fact that we are here today to debate raising america's debt limit is a sign of leadership failure, it's a sign that the u.s. government can't pay its own bills, it's a sign that we now depend on ongoing financial assistance from foreign countries to finance our government's reckless fiscal policies. leadership means that the buck stops here. instead, washington is shifting the burden of bad choices today on the backs of our children and grandchildren, therefore intend to oppose the effort to increase america's debt limit. in 2008, candidate obama blamed president bush and called the growing debt unpatriotic. >> number 43 added 4 trillion dollars by his lonesome so that we no
ceiling. >> so i want to be clear about this, the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending, it simply allows the country to pay for spending that congress has already committed to. >> mike: well, according to the congressional record, in 2006, then senator barack obama had this statement just before a debt ceiling vote and i quote, the fact that we are here today to debate raising america's debt limit is a...
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he's not negotiating over the debt ceiling. michael, is this more of what we're going to hear from him today? is he going to lay the groundwork for the battle ahead? >> i think so. to some degree i think what's happening is a game of chicken unfortunately. i know the financial markets hate it. and it kind of turns your stomach a little bit. but obama has said we're absolutely not negotiating over the weekend a significant event when the treasury department ruled out this kind of fantastical sounding option of minting a trillion dollar platinum coin. so they've closed yet another door, and he's essentially said, you know, i'm just not playing ball. i read that politico story today as very interesting. it could be john boehner's camp saying we can't control the far right wing. it could also be a little bit of a bluff. it may be that boehner really feels that way or maybe he wants the white house the think he feels that way and it could be, again, part of this grand game of chicken. everyone is positioning right now. that's what's
he's not negotiating over the debt ceiling. michael, is this more of what we're going to hear from him today? is he going to lay the groundwork for the battle ahead? >> i think so. to some degree i think what's happening is a game of chicken unfortunately. i know the financial markets hate it. and it kind of turns your stomach a little bit. but obama has said we're absolutely not negotiating over the weekend a significant event when the treasury department ruled out this kind of...
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and what the federal government chooses to do or not to do regarding the debt ceiling. >> reporter: he said if washington fails to act on the debt creel, the national economy could dip, throwing all of the numbers off. >> that's going to have a very significant effect on revenues in california. >> reporter: the govern's budget that was released last thursday will be revised or updated in may. that is when we will truly know if our surplus plus has grown with the economy, or if it has dropped. >>> it doesn't look like survivors who filed lawsuits against pg & e are for the deadly san bruno explosion will go to trial. during a hearing in san mateo county superior court today, attorneys said they have come up with a process that should take about 90 days to settle the remaining legal claims. about 320 residents filed suit, and so far mediation efforts have netted settlements for some 120 plaintiff. >>> family members and politicians are calling for more resources to prevent military suicide as the number of suicides last year surged. numbers obtained from the pentagon show there were 349
and what the federal government chooses to do or not to do regarding the debt ceiling. >> reporter: he said if washington fails to act on the debt creel, the national economy could dip, throwing all of the numbers off. >> that's going to have a very significant effect on revenues in california. >> reporter: the govern's budget that was released last thursday will be revised or updated in may. that is when we will truly know if our surplus plus has grown with the economy, or if...
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"raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up, and we need to pay them." president obama warns that if the debt limit is not raised or used as leverage by republicans, markets would go haywire, interest rates would rise, and checks to military veterans and people on social security would end. gop senate minority leader mitch mconnel reponded by saying, "the president and his allies need to get serious about spending, and the debt-limit debate is the perfect time for it." traders will get their first opportunity to react to comments at the market close yesterday by federal reserve chairman ben bernanke. among the highlights, the fed chair says, the federal government is not out of ammunition, the fed's bond-buying program is not likely to lead to higher inflation, and the fed sees positive signs in the economy. bernanke made the comments during an appearance at the university of michigan. nike i
"raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up, and we need to pay them." president obama warns that if the debt limit is not raised or used as leverage by republicans, markets would go haywire, interest rates would rise, and checks to military veterans and people on social security would end. gop senate minority leader mitch mconnel...
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debt ceiling, he's going to make his statement that he's not going to use the debt ceiling as a bargaining chip. but we've got to get to sitting down and working out a deal that's going to really address the nation's problems. we've got to do something about guns. he's got to stake out some territory in which the white house won't retreat from. >> chip, how much is this a sell of the american people? >> well, i mean, i think right now as kind of like the governor said, set the tone. >> forgive me for interrupting but the president is out now in the eastern room. let's take a listen. >> good morning. i thought it might make some sense to take some questions this week as my first term comes to an end. it's been a busy and productive four years, and i expect the same for the next four years. i intend to carry out the agenda that i campaigned on, agenda for new jobs, new opportunity, and new security for the middle class. now, right now our economy is growing and our businesses are creating new jobs. so we are poised for a good year if we make smart decisions and sound investments. and as long
debt ceiling, he's going to make his statement that he's not going to use the debt ceiling as a bargaining chip. but we've got to get to sitting down and working out a deal that's going to really address the nation's problems. we've got to do something about guns. he's got to stake out some territory in which the white house won't retreat from. >> chip, how much is this a sell of the american people? >> well, i mean, i think right now as kind of like the governor said, set the tone....
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let us raise the debt ceiling. no strings attached. and if the president can raise it as he should be able to and if congress wants to reject it 2/3. the mcconnell proposal is a good republican proposal. i hope you support it. that's the way to go. >> a bill that says regardless of what happens with the debt ceiling, the united states will never default on the debt, would you support that or not? >> i support the concept. i'd have to look at the bill. the best way to do that is the mcconnell act. >> we may have just made news. >>> last week, general colin powell was here worried about a dark vein of intolerance in republican quarters. you are part of a stream of new faces in the republican party, minority faces and voices in the party that seem to stand against that. how did you respond to it? >> well, i saw that interview. i respect general powell a great deal. i was disappointed with those comments. i think he was buying into some of the partisan attacks. if you look at this last election, for example, i think the most racially divis
let us raise the debt ceiling. no strings attached. and if the president can raise it as he should be able to and if congress wants to reject it 2/3. the mcconnell proposal is a good republican proposal. i hope you support it. that's the way to go. >> a bill that says regardless of what happens with the debt ceiling, the united states will never default on the debt, would you support that or not? >> i support the concept. i'd have to look at the bill. the best way to do that is the...
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trimg the deficit should be separate from the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is a america will pay its bills. we are not a deadbeat nation. >> john boehner said the american people do not support raising the debt ceiling without reducing government spending at the same time. >> listen to this. a medical scare in a buffalo, new york veteran's hospital. many may have been exposed to hiv. the pens are designed to be used by one person, but many of them were used on multiple people. >> surfers, beware. you have to look at this video. it's shocking. >> standing on the shore? >> he has his toes in the water. two sharks were spotted dangerously close to shore in honolulu. this was off of oahu. they are like ten feet offshore. >> i will call him a dingaling if he is in the water. >> he's a hero. >> there is flooding and ice. from the weather center, you said snow is on the way as well? >> that's right. it's coming to you guys. it's coming into a north and west of new york into connecticut as well. that's not today's concern. we have the s
trimg the deficit should be separate from the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is a america will pay its bills. we are not a deadbeat nation. >> john boehner said the american people do not support raising the debt ceiling without reducing government spending at the same time. >> listen to this. a medical scare in a buffalo, new york veteran's hospital. many may have been exposed to hiv. the pens are designed to be used...
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. >>> there are answers for renewed calls for congress to raise the debt ceiling. for more on that and a look at the world markets and how they did overnight, we turn to seema mody at cnbc world headquarters. >> good morning to you. let's start with markets. futures lower after a mixed session on monday. as you pointed out apple weighing on tech on reports that it is cutting component costs but dell took others higher on talks it's in talk with several firms. we get a trio of federal reserve officials speaking out about the economy today. the dow rising 18 points in yesterday's trade and nasdaq slipping eight to close at 3117. here's our top story. treasury secretary tim geithner is calling on congress to raise the debt ceiling. in a letter to lawmakers geithner says it could cause harm to the u.s. economy. the government will run out of tools to avoid defaulting on debt sometime in late february or early march. that would mean social security and other government benefit checks would stop going out. fed chairman ben bernanke is joining the cause saying the economy
. >>> there are answers for renewed calls for congress to raise the debt ceiling. for more on that and a look at the world markets and how they did overnight, we turn to seema mody at cnbc world headquarters. >> good morning to you. let's start with markets. futures lower after a mixed session on monday. as you pointed out apple weighing on tech on reports that it is cutting component costs but dell took others higher on talks it's in talk with several firms. we get a trio of...
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to use that as a reason to use the debt ceiling as a weapon is really playing with fire. they say pay some bills and not pay others. we've never tried that before. >> host: is it feasible? >> guest: i don't think so. which bills? social security? veterans? people out fighting for this country? which bills do you pay? we never tried that. i think the president put it so well. this is not a debt beat nation, really, and i think common sense is likely to prevail within the republican ranks. i know, if i might say so, if not firsthand, second hand, that the leadership within the house republican caucus, not all of it, i think some of it realizes that the potential consequences. >> host: if president obama won, so to speak on the fiscal cliff deal and got taxes increase, able to get new revenue, then why not, as democrats, agree to some spending cuts that republicans want? >> guest: well, the president made clear that there has to be, in terms of what's coming, there has to be a mixture, a balance between cuts and revenues. in terms of the sequester, we're going to have to hav
to use that as a reason to use the debt ceiling as a weapon is really playing with fire. they say pay some bills and not pay others. we've never tried that before. >> host: is it feasible? >> guest: i don't think so. which bills? social security? veterans? people out fighting for this country? which bills do you pay? we never tried that. i think the president put it so well. this is not a debt beat nation, really, and i think common sense is likely to prevail within the republican...
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Jan 16, 2013
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in the coming weeks as they deal with the debt ceiling. also, those automatic cuts to defense and domestic spending. plenty more battles ahead over spending, shep. >> shepard: mike emanuel on the hill. the bill has passed and the president will sign it into law. two weeks after congress approved a separate measure to borrow $10 billion to flood insurance claims from sandy and other disasters. throughout the areas sandy hit hardest we are hearing stories of people growing increasingly frustrated in delays by getting money they need. >> the whole outside of the house was ripped apart with waves. >> the waves washed out 16 years of family mementos from this water front house on new york's long island. >> what you see is exactly how we found it after the hurricane. >> jane long-term says she will -- letterman says she will have to tear down the home she loved. two months after the storm she is still waiting for the insurance payment to get her started. >> this is a shame. it's just a shame that, you know, this had to happen. but the thing to d
in the coming weeks as they deal with the debt ceiling. also, those automatic cuts to defense and domestic spending. plenty more battles ahead over spending, shep. >> shepard: mike emanuel on the hill. the bill has passed and the president will sign it into law. two weeks after congress approved a separate measure to borrow $10 billion to flood insurance claims from sandy and other disasters. throughout the areas sandy hit hardest we are hearing stories of people growing increasingly...
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Jan 15, 2013
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they don't want to have the debt ceiling be the problem. they think that would be very bad for the economy and for everyone in the economy. they worry about interest rates going up and they worry about the impact on our deficit. because when interest rates go up, that means the deficit will go up. so we make the problem worse by taking this route if we go down this pathway. >> i want to throw three terms at you that we've had to stomach out in america. debate over the fiscal cliff, the debate over the debt ceiling and the budget show dunn. all three of these very serious. but which is the most serious. >> the debt ceiling could do damage to our countries for decades to come if we hit it and don't expect the problem. this is the most dangerous thing. this is almost a nuclear option. this is really playing with very dangerous things. and one little mistake could be devastating to our country. >> and yet you still come on day after day and smile with me. thank you. always good to see you. >>> by the way, i just want to remind you if you're doi
they don't want to have the debt ceiling be the problem. they think that would be very bad for the economy and for everyone in the economy. they worry about interest rates going up and they worry about the impact on our deficit. because when interest rates go up, that means the deficit will go up. so we make the problem worse by taking this route if we go down this pathway. >> i want to throw three terms at you that we've had to stomach out in america. debate over the fiscal cliff, the...